Download minutes PDF Minutes Approved

Yu Ming Charter School

Minutes

Board of Directors Finance Committee Meeting

Date and Time

Wednesday September 11, 2024 at 3:30 PM

Location

  • In person (CHE Campus): 2501 Chestnut Street, Oakland, CA 94607
  • Zoom Meeting (see info below)
  • Teleconference Location 1 (MLK Campus): 675 41st Street, Oakland, CA 94609
  • Teleconference Location 2 (CAR Campus): 16244 Carolyn Street, San Leandro, CA 94578

The Board Finance Committee and employees of the Yu Ming Charter School shall meet in person at the location listed above. Zoom Meeting information is made available for Committee members teleconferencing and members of the public who wish to access the meeting remotely: 

http://tiny.cc/09-11-24-Finance - Meeting ID: 876-7308-7884 - Password: 766328

Dial by your location: (301) 715 8592 (Washington DC), (305) 224 1968, (309) 205 3325, (312) 626 6799 (Chicago), (646) 876 9923 (New York), (646) 931 3860, (507) 473 4847, (564) 217 2000, (669) 444 9171, (669) 900 6833 (San Jose), (689) 278 1000, (719) 359 4580, (253) 205 0468, (253) 215 8782 (Tacoma), (346) 248 7799 (Houston), (360) 209 5623, (386) 347 5053, (408) 638 0968 (San Jose)

Committee Members Present

D. Chou, L. Chang, Y. Yeh

Committee Members Absent

C. Green

Guests Present

B. Badillo (remote), M. Andrejko, S. Wang (remote)

I. Opening Items

A.

Call the Meeting to Order

Y. Yeh called a meeting of the Finance Committee of Yu Ming Charter School to order on Wednesday Sep 11, 2024 at 3:33 PM.

B.

Record Attendance and Guests

C.

Approval of Agenda

D. Chou made a motion to approve the agenda.
L. Chang seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
L. Chang
Aye
Y. Yeh
Aye
D. Chou
Aye
C. Green
Absent

II. Invitation to the Public to Address the Committee

A.

Public Comments

There were two members of the public in attendance at the time of this agenda item. No public comments.

III. Consent Agenda

A.

Approval of Consent Agenda

D. Chou made a motion to approve the consent agenda.
L. Chang seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
L. Chang
Aye
C. Green
Absent
D. Chou
Aye
Y. Yeh
Aye

B.

Approval of June 11 Minutes

D. Chou made a motion to approve the minutes from Finance Committee Regular Meeting on 06-11-24.
L. Chang seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
Y. Yeh
Aye
C. Green
Absent
L. Chang
Aye
D. Chou
Aye

IV. Items of Business

A.

2024-25 Committee Membership, Description & Goals

The committee discussed and finalized the committee description, membership and goals, which will be shared with the Board at the next meeting.

 

Mathilde will advertise the committee in the newsletter.

B.

2023-24 Year-End Financial Report

B. Badillo presented the year-end financial report.

C.

Unaudited Actuals

B. Badillo presented the unaudited actuals.

L. Chang made a motion to approve the 2023-24 unaudited actuals.
D. Chou seconded the motion.
The committee VOTED unanimously to approve the motion.
Roll Call
D. Chou
Aye
C. Green
Absent
Y. Yeh
Aye
L. Chang
Aye

D.

Investment Account Update

E. Wood shared that the brokerage account is in the process of being opened. Everything was submitted but it takes 6-8 weeks to open. We are exploring other avenues such as every.org.

E.

Property Tax Update

E. Wood gave the update on the property tax. We were owed a reimbursement from Envision for the purchase of the property. We're also filing our own exemption with the assessor. We're about to submit the required document--past the deadline for last year, but should apply moving forward.

V. Closing Items

A.

Review of Action items and Future Agenda Items

  • Review fiscal policies to incorporate loan covenants
  • 5-year budget deep dive
  • CEO listening session about finances - review presentation and discuss talking points through the lens of transparency/parent education
  • Line of Credit
  • Additional committee members

B.

Schedule 2024-25 Committee Meetings

Tentatively Tuesdays 4pm on the following weeks (to be confirmed):

Week of Sept 16
Week of Oct 21
Week of Nov 11
Week of Dec 9 
Week of Jan 13
Week of Feb 10 (school break the week of Feb 17)
Week of March 10
Week of Apr 14 (school break week of April 7)
Week of May 19
Week of June 9

C.

Adjourn Meeting

There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 4:50 PM.

Respectfully Submitted,
Y. Yeh

THE ORDER OF BUSINESS MAY BE CHANGED WITHOUT NOTICE
Notice is hereby given that the order of consideration of matters on this agenda may be changed without prior notice.
REASONABLE LIMITATIONS MAY BE PLACED ON PUBLIC TESTIMONY
Members of the public are welcome to speak on any agenda or non-agenda items so long as the matter pertains to the domain and jurisdiction of the school board. Public testimony on non-agenda items will be heard at the opening of the meeting. Public testimony on agenda items will take place as each item is presented. The Board’s presiding officer reserves the right to impose reasonable time limits on public testimony.
REASONABLE ACCOMMODATION WILL BE PROVIDED FOR ANY INDIVIDUAL WITH A DISABILITY 
Requests for disability-related modifications or accommodations to participate in this public meeting should be made 24 hours prior to the meeting by calling (510) 452-2063 or emailing office@yumingschool.org. All efforts will be made for reasonable accommodations. The agenda and public documents can be modified upon request as required by Section 202 of the Americans with Disabilities Act.
FOR MORE INFORMATION 
A copy of the written materials which will be submitted to the Board may be reviewed by any interested persons on the Yu Ming Charter School’s website along with this agenda following the posting of the agenda at least 72 hours in advance of this meeting.
For more information concerning this agenda or to receive access to materials relating to this meeting, please contact Yu Ming Charter School at (510) 452-2063 or office@yumingschool.org.